Centaurus Hoards Zarlink Stock In Leadup To $525M Buyout

Law360, New York (September 30, 2011, 6:10 PM EDT) -- British hedge fund Centaurus Capital LP announced Friday that it increased its stake in chipmaker Zarlink Semiconductor Inc. after Microsemi Corp. sweetened its offer to buy up Zarlink stock in a deal worth roughly CA$551 million (US$525 million).

Centaurus acquired more than 562,000 shares of Ottawa, Ontario-based chipmaker Zarlink, giving the hedge fund a total of more than 6.6 million shares, or 5.4 percent of the company’s common stock — all of which it bought following Microsemi’s formal takeover bid in August, Centaurus said.

Zarlink initially...
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